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overtheedge
Member since May 2012
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has posted a comment on the article :
Russia Debt One Grade Above Junk With Downgrades Coming, How Likely is Default?
- Mish -
Global Economic Analysis
"Russia has about $4000 billion in foreign currency reserves, ..."
I think you got a heavy finger on the zero key.
$400 billion is probably the right figure.
Compare the size of these bail-outs against the size of the US Fed bail-outs.
Apples and oranges perhaps or perhaps not.
"In fact, one has to wonder if the impending downgrade to junk is politically motivated."
I contend the proper response to the probable downgrades is to FINALLY recognize that the ratings corporations are just as phony as everything else.
Just compare the sizes of the respective national debts of Russia and the USA in terms of percentage of GDP.
Who exports what? What exports actually have a tangible value. And just what is the percentage of tangible versus intangible exports from each respective country?
What is the credit rating for the USA again? Really?
I contend folks should be watching the USDX (currently 90.05) and exercising their critical thinking skills about where foreign owned monies will gravitate towards.
Then what do you suppose will happen next?
Commented
3400 days ago
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Beginning of the headline :
All three rating agencies are expected to downgrade Russia's debt to junk soon and bailouts to Russian banks are on the rise, but how likely is default? The Financial Times reports ... Russia trebled the size of its bailout of troubled lender Trust Bank to Rbs99bn ($1.9bn) on Friday, laying bare the growing financial fallout from its currency crisis and the slump in the price of oil, its main export. The rapidly rising cost makes the rescue of Trust bank, which foundered as the rouble collap...
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chers Vladi,il est lor, oui, effectivement, et alors ? un fonctionnaire crée de la richesse ? creuser des trous crée de la richesse ? si nous arrêtions, pour voir, de payer nos impôts, vos 55, fonctionnaires compris, font quoi fin du mois ? merci d'expl
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ferzi
- 20/04/2013 à 20:03 GMT
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